FY2025 EPS Estimates for Palomar Boosted by Zacks Research

Key Points

• Zacks Research has revised its FY2025 earnings estimate for Palomar Holdings, Inc. to $6.62 per share, slightly up from the previous estimate of $6.61, indicating positive outlook compared to the consensus estimate of $5.99 per share.
• Palomar's recent quarterly earnings report revealed an EPS of $1.76, surpassing expectations, with revenue growth of 47.6% year-over-year, amounting to $496.29 million.
• JPMorgan Chase & Co. and Evercore ISI have updated their price targets for Palomar's shares, with current targets now between $151.00 and $170.00, reflecting various outlooks on the stock's performance.

Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) - Equities researchers at Zacks Research raised their FY2025 earnings estimates for shares of Palomar in a note issued to investors on Tuesday, September 16th. Zacks Research analyst Team now anticipates that the company will post earnings of $6.62 per share for the year, up from their prior estimate of $6.61. The consensus estimate for Palomar's current full-year earnings is $5.99 per share. Zacks Research also issued estimates for Palomar's Q3 2026 earnings at $1.89 EPS.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.68 by $0.08. The business had revenue of $496.29 million for the quarter, compared to the consensus estimate of $173.86 million. Palomar had a net margin of 22.71% and a return on equity of 20.35%. The company's revenue was up 47.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share.

Several other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Palomar from $170.00 to $158.00 and set an "overweight" rating on the stock in a report on Monday, August 11th. Evercore ISI upped their price objective on shares of Palomar from $163.00 to $168.00 and gave the company an "in-line" rating in a report on Friday, May 30th. Keefe, Bruyette & Woods dropped their price objective on shares of Palomar from $204.00 to $172.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Wall Street Zen downgraded shares of Palomar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Piper Sandler decreased their price target on Palomar from $177.00 to $151.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $165.83.

Palomar Stock Up 0.4%

NASDAQ PLMR opened at $115.05 on Thursday. The company has a market cap of $3.08 billion, a PE ratio of 20.22 and a beta of 0.34. Palomar has a 52 week low of $85.00 and a 52 week high of $175.85. The firm's 50-day simple moving average is $126.42 and its two-hundred day simple moving average is $140.91.

Insider Buying and Selling at Palomar

In other news, COO Rodolphe Herve sold 1,130 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $130.10, for a total transaction of $147,013.00. Following the completion of the sale, the chief operating officer owned 807 shares of the company's stock, valued at approximately $104,990.70. This represents a 58.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mac Armstrong sold 5,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $158.14, for a total value of $790,700.00. Following the sale, the chief executive officer directly owned 387,388 shares of the company's stock, valued at approximately $61,261,538.32. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,378 shares of company stock valued at $3,122,952. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Palomar

Institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in Palomar by 3.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,461 shares of the company's stock worth $363,000 after acquiring an additional 90 shares during the period. KBC Group NV lifted its stake in Palomar by 9.1% in the first quarter. KBC Group NV now owns 1,140 shares of the company's stock worth $156,000 after acquiring an additional 95 shares during the period. California State Teachers Retirement System lifted its position in Palomar by 0.4% during the second quarter. California State Teachers Retirement System now owns 24,207 shares of the company's stock valued at $3,734,000 after buying an additional 97 shares during the period. Bank of Montreal Can lifted its position in Palomar by 1.7% during the second quarter. Bank of Montreal Can now owns 5,766 shares of the company's stock valued at $889,000 after buying an additional 98 shares during the period. Finally, Hohimer Wealth Management LLC lifted its position in Palomar by 3.9% during the first quarter. Hohimer Wealth Management LLC now owns 2,617 shares of the company's stock valued at $359,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 90.25% of the company's stock.

About Palomar

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.

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